Rajesh Laddha appointed MD & CEO of Shriram Capital

Piramal Enterprises today said its chief financial officer Rajesh Laddha has been appointed Managing Director and CEO of Shriram Capital Ltd, effective July 1, 2017.

Piramal Enterprises Ltd (PEL) holds an effective 20 per cent equity stake in Shriram Capital Ltd (SCL).

Laddha was appointed as non-executive director on the board of SCL on July 21, 2015, following the company's investment into SCL, Piramal Enterprises Ltd said in a filing to BSE.

"When the Board of Shriram Capital collectively requested that he transitions from his role of non-executive director on the Board of Shriram Capital Ltd to Managing Director & CEO, we were happy to support their decision", Piramal Group Chairman Ajay Piramal said.

The company remains committed to its investments in Shriram Group and believes that this appointment will further accelerate its robust growth opportunities, he added.

"This appointment marks a new era in our growth as well as deepens our partnership with our long term investors, including the Piramal Group", Shriram Group Founder R Thyagarajan said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)